For the third straight month, we saw more sales year over year on a monthly basis. 77 properties sold- almost the exact same number that sold each year from 2015-2018. While there is no getting around the effects of high interest rates and limited inventory, the local market seems to have reached a steady pace which may last the rest of 2023. August saw our first $10M sale in Prospect, and September had another sale at a similarly high price point- a $8.55M spec home in Aperture. If you aren’t already receiving my monthly newsletters which include my market reports and community updates, please click the button below:
The following year over year graphs compare the previous 365 days with the same period one year ago (i.e. 9/30/2021 through 9/30/2022 versus the same period from 2022 to 2023). With such a small market (sample size) these numbers can jump around, so it’s worth comparing these graphs over a period of time. My Gunnison and Crested Butte real estate market report archives can be found on this page. If you are looking for other statistics, such as inventory, or a more specific neighborhood analysis, please Contact Me.
-
- Crested Butte South: There are only 5 homes for sale in CB South that aren’t currently under contract. Recent sales of smaller, less expensive condos pushed the median sales price down.
- Mount Crested Butte (All Residential): Mt Crested Butte inventory fell roughly 15% compared to last month. For condos only, see below:
- Mount Crested Butte (Condos/Townhomes): 7 out of 60 listings are under contract. I do feel like there is some great value to be had in this market.
- Crested Butte: The median sales price exceeded $2M downtown, the first time that number has been reached. The average sales price is even higher, at $2.6M.
- Crested Butte Area: This category includes neighborhoods such as Skyland, Larkspur, Riverbend, Meridian Lake and Trapper’s Crossing. Several new construction townhomes in Buckhorn Ranch closed last month, all of which had been under contract for months. This pushed the inventory and pending sales lower in this area.
- Gunnison: There are only 25 current listings in Gunnison. The “Gunnison Rising” development seems to have hit a snag, and it will be a while before homes begin in that area..
- Gunnison Area: This includes areas such as Dos Rios, Ohio Meadows, Cranor Hill, and Hartman Rocks. This area has been popular over the past year, with lower days on market, increased sales, and increasing prices.
- Total Residential Sales: This category covers our entire MLS area, including Lake City, Pitkin, Crested Butte, Gunnison, and points between.
- Land Sales (Upper valley from CB South through Mount Crested Butte): Vacant land continues to be a slow part of the local market, due to the high interest rates and building costs.
- Land Sales (Total): This category also covers our entire MLS area, including Almont, Lake City, Pitkin, Crested Butte, Gunnison, and other parts of the Crested Butte/Gunnison area. Vacant land inventory is rising faster than it is in the residential sector.
Crested Butte/ Gunnison Home Sales, September 2023:
Crested Butte/ Gunnison Land Sales, September 2023:
Source: Gunnison Country Association of Realtors’ MLS/ CREN. Reported sales not necessarily sold or listed by Frank Konsella and are intended only to show area trends.
